Oregon Public Employees Retirement Fund Acquires New Stake in Kirby Co. (KEX)

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Oregon Public Employees Retirement Fund acquired a new stake in shares of Kirby Co. (NYSE:KEX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,865 shares of the shipping company’s stock, valued at approximately $1,744,000.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Kirby in the first quarter worth about $32,150,000. Wells Fargo & Company MN increased its position in Kirby by 124.6% in the second quarter. Wells Fargo & Company MN now owns 528,341 shares of the shipping company’s stock worth $44,169,000 after buying an additional 293,152 shares in the last quarter. Arosa Capital Management LP increased its position in Kirby by 2,231.6% in the first quarter. Arosa Capital Management LP now owns 303,108 shares of the shipping company’s stock worth $23,324,000 after buying an additional 290,108 shares in the last quarter. Bank of Montreal Can purchased a new stake in Kirby in the second quarter worth about $21,646,000. Finally, Victory Capital Management Inc. increased its position in Kirby by 394.9% in the second quarter. Victory Capital Management Inc. now owns 173,981 shares of the shipping company’s stock worth $14,545,000 after buying an additional 138,823 shares in the last quarter. Institutional investors own 91.23% of the company’s stock.

NYSE:KEX opened at $81.50 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.17. Kirby Co. has a 12-month low of $61.80 and a 12-month high of $94.05. The stock has a market cap of $4.58 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, July 25th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.07. Kirby had a return on equity of 4.77% and a net margin of 11.49%. The firm had revenue of $802.70 million during the quarter, compared to analysts’ expectations of $765.43 million. During the same quarter last year, the business posted $0.48 earnings per share. The firm’s revenue was up 69.6% on a year-over-year basis. research analysts anticipate that Kirby Co. will post 2.83 EPS for the current year.

In related news, Director J H. Pyne sold 52,934 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $87.88, for a total transaction of $4,651,839.92. Following the completion of the sale, the director now owns 225,233 shares in the company, valued at $19,793,476.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian G. O’neil sold 1,500 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $86.75, for a total value of $130,125.00. The disclosure for this sale can be found here. Insiders have sold 58,104 shares of company stock valued at $5,099,875 in the last quarter. 2.40% of the stock is currently owned by company insiders.

A number of analysts have commented on the company. ValuEngine cut Kirby from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded Kirby from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Stifel Nicolaus upped their price target on Kirby from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Finally, Gabelli upgraded Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Monday, July 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $90.50.

Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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